With recent user data reporting that
Facebook has eclipsed two billion monthly
users, along with Instagram and Twitter
users combining for another billion,1 a
simple five-second video captured on a
smartphone can instantaneously influence
millions before compliance or risk teams
are even aware of
a situation.

With social
media users and
channels growing
each month, how can
organizations keep
up? The following
are a few suggestions
that I recommend
exploring within
your organization.

Develop a risk triage plan

Not all risks require an “all hands on
deck” remediation strategy, but knowing
when and how to implement this strategy
requires proper training. Developing a
risk triage plan ensures you can properly
evaluate emerging social risks before they
snowball into larger problems. Crucial to
the development of this strategy is being
able to answer two key questions:

1. Does this risk pose the potential to
have a larger impact?

2. What is our ability to quickly act upon
and suppress the risk before it grows?

These questions provide the foundationof any risk remediation strategy as theyhelp you prioritize and properly addressrisk by identifying which fires are worthfighting and which are not. That is, if arisk appears minor and can fizzle out onits own, it is wise to limit your resourcesassigned to this risk and, instead, allocatethem toward risk that creates more pressingenterprise issues.

Risk management teams should
document the proper processes to take given
the answers to these questions and educate
teams on what to do, and even what not to do,
as risks arise.

Examine your
brand risks

In today’s socialenvironment,the first step formany disgruntledconsumers, andsometimes evenemployees, is topost on socialmedia. From badexperiences, overallfrustration, or even concerns over enterpriseactions, social media has emerged as thefront line for airing negative experiences.

Savvy brands need to continuouslymonitor for mentions of their brand and actupon them in a quick, appropriate manner.

Social media teams should also work closely
with risk management teams to identify
and recognize the difference between
an everyday complaint and a national
news story.

Additionally, risk teams must remember
that employees can emerge as the cause of
a social brand risk, whether intended or
unintended. From talking about bad days
at work to leaking undisclosed product
information, employees carry an authoritative
voice when discussing their brand.

It is important for enterprises to haveinternal protocols in place to educate theiremployees on the importance of brandrepresentation within the social environment.Today’s media is “always on”; thus, employeesmust follow suit on social channels.Developing a risktriage plan ensures youcan properly evaluateemerging social risksbefore they snowballinto larger problems.